ISO 31000 Standard

Compliance with regulation is no longer good enough.

All businesses and organisations must demonstrate effective risk management to restore investor and stakeholder trust.

Balanced RiskCard^® is ideally suited as a tool to enable management to demonstrate their application of best practice.

The new ISO 31000 Risk Management Standard sets the path for best practice. There are three elements to ISO 31000;

Risk Principles (clause 3)

a) Creates value
b) Integral part of the organisational processes
c) Part of decision making
d) Explicitly addresses uncertainty
e) Systematic, structured and timely
f) Based on the best available information
g) Tailored
h) Takes human and cultural factors into account
i) Transparent and inclusive
j) Dynamic, iterative and response to change
k) Facilitates continual improvement and enhancement of the organisation

ISO 31000 Standard

Risk Principles (clause 3)

Risk Framework (clause 4)

Risk Process (clause 5)